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晶晨股份获超百家机构调研 智能家居产品销量大增
Zheng Quan Shi Bao· 2025-10-10 18:11
证券时报记者 聂英好 9月29日至10月10日4个工作日,共有105家上市公司接待机构调研。从赚钱效应看,约六成机构调研个股实现正收 益,其中深科技以29.68%的涨幅领先,先锋精科、威力传动、盛达资源、国电南自等10家公司涨超10%。 3家公司接待 机构调研均逾百家 热门调研标的方面,首创环保、九丰能源、晶晨股份3家公司接待百家以上机构,华峰测控、博瑞医药、威力传 动、永臻股份、瑞芯微等5家公司迎来超50家机构投资者。 首创环保接受119家机构调研,该公司是北京市国资委所属环保旗舰上市公司,主营业务涵盖污水处理、固废处 置、大气治理及再生能源等领域,拥有多项环保业务资质。在调研中,机构问及首创环保水务业务存量项目特许 经营期到期情况,以及如何规避风险等问题。 据了解,存量重资产项目特许经营期大多在20—30年,按签约年份推算,首创环保未来陆续会有项目特许经营期 到期。首创环保回应表示,对于区域营商环境看好的项目,首创拟利用应收账款抵扣转特许经营期延长措施,或 借助城市更新、厂网一体化等政策契机,积极参与相关项目,以此延长对优质项目运营资产的持有。 机构还询问首创环保上半年化债工作进展情况,首创环保表示,20 ...
甲醇日评20251010:高库存压制现货价格-20251010
Hong Yuan Qi Huo· 2025-10-10 06:07
| 甲醇日评20251010: 高库存压制现货价格 | | | | | | | --- | --- | --- | --- | --- | --- | | 单位 | 指标 | 2025/10/9 | 2025/9/30 | 变化值 | 要化值 | | | | | | (絶対值) | (相对值) | | 元/吨 | MA01 | 2290.00 | 2328.00 | -38.00 | -1.63% | | 元/吨 | MA05 甲醇期货价格 | 2346.00 | 2362.00 | -16.00 | -0.68% | | 元/吨 | (收盘价) MA09 | 2320.00 | 2329.00 | -9.00 | -0.39% | | 元/呼 | 太仓 | 2210.00 | 2237.50 | -27.50 | -1.23% | | 元/吨 | 山东 | 2330.00 | 2340.00 | -10.00 | -0.43% | | 元/吨 | 广东 期现价格 | 2222.50 | 2250.00 | -27.50 | -1.22% | | | 甲醇观赏价格 及基差 | | | | | | 元/吨 | ...
甲醇数据日报-20251009
Guo Mao Qi Huo· 2025-10-09 03:40
8 服 热 导发 E 户网 站 100 - 100 la pa www.itf.com.cn 400-8888-598 ts No 180 14/1 | 设资咨询业务资格:证监许可【2012】31号 | ITC国贸期货 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 醒教据 日报 | 国贸期货研究院 | 期货从业号:F3054270 | | | | | | | | | | 2025/10/09 | 能源化工研究中心 陈一凡 | 投资咨询证号:Z0015946 | | | | | | | | | | 2025/09/30 | 行情评述 | 指标 | 涨跌值 | 2025/09/29 | 晋城无烟煤 | 900. 00 | 900. 00 | 0. 00 | | | | 内蒙动力煤 | 630. 00 | 630. 00 | 0.00 | NY ZIF | 川渝液化气 | 3760.00 | 3760. 00 | 0. 00 | | | | 国际天然气 | 11. 09 | 10.9 ...
大越期货甲醇周报-20250929
Da Yue Qi Huo· 2025-09-29 03:07
甲醇周报 (9.22 大越期货投资咨询部 -9.26 金泽彬 ) 从业资格证号:F3048432 投资咨询证号:Z0015557 联系方式:0575-85226759 重要提示:本报告非期货交易咨询业务项下服务,其中的观点和信息仅作参考之用,不构成对任何人的投 资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户;市场有风险,投资需谨慎。 CONTENTS 目 录 1 每周评论 2 基本面数据 3 检修状况 4 交易咨询业务资格:证监许可【2012】1091号 观点与策略 甲醇周评:临近长假交易逐步放淡,预计下周国内甲醇市场波动有限。内地方面,下游原料库存高位后 期采购预期缩量,且运力也缩紧,贸易商多离场观望。西北CTO工厂本周大量外采下,上游甲醇工厂库存不 多,节前也无排库需求。缺乏明显因素影响,预计节前内地甲醇清淡整理。港口方面,期货空头方面仍占上 风,预计节前甲醇市场价格或维持震荡调整;10月变量较大,重点是伊朗部分装置是否如期检修,装船量减 量及港口库存去库的程度,基本面边际改善下,关注港口市场炒作下的低多机会。 国内甲醇现货价格 | | 国内甲醇价格 (元/吨) | | | | | | ...
甲醇数据日报-20250917
Guo Mao Qi Huo· 2025-09-17 06:59
Report Summary 1) Report Industry Investment Rating - No industry investment rating is provided in the report. 2) Core View of the Report - In the short - term, methanol prices will fluctuate within a range, and in the medium - to - long - term, the methanol spot market may shift from strong to weak and volatile [1]. 3) Summary by Relevant Catalogs Price - On September 15 - 16, 2025, prices of most energy and chemical products remained stable. For example, the price of Jincheng anthracite was 900 yuan, Inner Mongolia steam coal was 630 yuan, and Sichuan - Chongqing liquefied gas was 3810 yuan. International natural gas decreased from 11.02 to 10.97, and Taicang methanol decreased from 2285 to 2280 yuan. Inner Mongolia methanol increased from 2120 to 2140 yuan [1]. Supply - Domestic methanol production decreased from 266,895 to 265,295, domestic operating rate decreased from 82.33 to 81.84, and international operating rate decreased from 72.02 to 69.72 [1]. Inventory - Both enterprise inventory and port inventory of methanol remained unchanged at 347,083 and 1,427,655 respectively [1]. Demand - Order backlog of methanol remained unchanged at 241,285. The operating rates of MTO, dimethyl ether, formaldehyde, acetic acid, chloride, and MTBE all remained unchanged [1]. Associated Product Prices - Among associated products, the price of acetic acid increased from 2370 to 2390 yuan, while the prices of formaldehyde (Shandong), dimethyl ether, methane chloride, and MTBE remained unchanged [1].
环氧氯丙烷、合成氨等涨幅居前,建议关注进口替代、纯内需、高股息等方向
Huaxin Securities· 2025-09-16 15:37
Investment Rating - The report maintains a "Buy" rating for several companies in the chemical industry, including Xin Yang Feng, Sen Qi Lin, Rui Feng New Materials, Sinopec, Ju Hua, Yang Nong Chemical, China National Offshore Oil Corporation, Tong Kun, Dao Tong Technology, and others [10]. Core Viewpoints - The report highlights significant price increases in products such as Epoxy Chloropropane (up 10.00%), Synthetic Ammonia (up 4.35%), and others, while products like Urea and Sulfur experienced notable declines [4][5][21]. - The ongoing geopolitical tensions, particularly the Russia-Ukraine conflict, and fluctuating international oil prices are influencing market dynamics, with a recommendation to focus on import substitution, domestic demand, and high-dividend stocks [6][22]. - The chemical industry is currently in a weak performance phase, with mixed results across sub-sectors due to past capacity expansions and weak demand, although some sectors like lubricants are performing better than expected [23]. Summary by Sections Price Movements - Significant price increases were observed in Epoxy Chloropropane (10.00%), Sulfur (4.59%), and Synthetic Ammonia (4.35), while Urea saw a decrease of 8.47% [4][5][21]. - The report notes that the overall chemical industry remains weak, with varying performance across different sub-sectors [22][23]. Investment Opportunities - The report suggests focusing on sectors likely to enter a growth cycle, such as Glyphosate, and emphasizes the importance of selecting stocks with strong competitive positions and growth potential [23]. - It highlights the resilience of domestic chemical fertilizer and certain pesticide sub-products, recommending companies like Hualu Hengsheng, Xin Yang Feng, and others for their stable demand [23]. Geopolitical and Economic Context - The report discusses the impact of geopolitical tensions on oil prices, with Brent crude oil priced at $66.99 per barrel and WTI at $62.69, reflecting a slight increase from the previous week [6][24]. - It anticipates that the international oil price will stabilize between $65 and $70, suggesting a cautious outlook for the market [6][24].
破产化工厂打响清“淤”战
Xin Hua Ri Bao· 2025-09-15 21:40
□ 本报记者顾敏 清查过程中,又有了惊人的发现:一个上锁的仓库里,堆放着大量落满灰尘的没有标识的试验半成品, 没人知道它们的存放时间、成分种类和危险含量。"这简直是颗'定时炸弹'!"邹建明的心一下子提了起 来,"一旦这些不明危废泄漏,后果不堪设想。" 南京江北新材料科技园,曾经的化工厂旧址上,南京诚志高端光学新材料项目正拔节生长。项目一期投 资约18亿元,主要建设年产10万吨PMMA(聚甲基丙烯酸甲酯)装置,预计2027年建成投产,可为显示面 板、光学透镜等领域提供关键原材料支撑。 他很快带队来到厂区,危化品放哪、有多少桶、储存状态如何,全都一一勘察、记录。因为汇报及时、 情况摸透,化工园区很快派专业团队赶来,紧急处置了这批危化品。 谁能想到,几年前这里还是另一番模样。南京市六合区人民法院破产庭法官邹建明,至今记得第一次踏 入南京某化工企业废弃厂区的震撼:露天场地里,一桶桶甲醇、二甲醚、废熔盐等危化品随意堆放,成 堆的设备残留物及包装材料散落四处,地面上淌着红褐色的液体,散发着刺鼻的气味。 更大的难题还在后面。这家企业地处化工园区核心区,占地面积大,遗留的危化品原料、设备残留物, 不少易燃易爆、带剧毒;厂区里 ...
能化板块周度报告-20250912
Xin Ji Yuan Qi Huo· 2025-09-12 12:42
1. Report Industry Investment Rating There is no information provided regarding the report industry investment rating in the given content. 2. Core Viewpoints of the Report - **Polyester Sector**: In the short - term, supply is expected to increase while demand improvement is limited, so the polyester sector will run weakly. In the medium - to - long - term, with unobvious demand peak season features, the polyester sector will fluctuate widely within a range [41][42]. - **Methanol**: In the short - term, although it is the demand peak season, the supply side still has pressure, and methanol will continue to fluctuate within a range. In the medium - to - long - term, there is continuous pressure on the supply side and stable demand support, resulting in a multi - empty game for methanol [60][61]. 3. Summary by Relevant Catalogs 3.1 Macro and Crude Oil Important News - Israel's strike on Hamas in Qatar has increased Middle East tensions, providing some support for crude oil prices. However, EIA and IEA monthly reports have raised global oil supply growth forecasts, and EIA inventory data shows a seasonal decline in US crude oil demand, making it difficult for oil prices to rise. If the geopolitical situation eases, the pressure for crude oil adjustment will increase [6][7][41]. - OPEC + agreed to increase crude oil production by 137,000 barrels per day in October, with a lower increase rate compared to previous months. The organization is adhering to the policy of competing for market share, and the new round of production increase in October means starting to lift the 1.66 million barrels per day of agreed production cuts [7]. - The EU is preparing the 19th round of sanctions against Russia, targeting six Russian banks and energy companies, and expanding to payment systems, credit card networks, and cryptocurrency platforms [7]. - The IEA has raised the forecast for global oil supply growth this year and hinted at a possible surplus in 2026. Supply growth is much faster than demand growth [7]. - EIA weekly data shows a decline in US refined oil demand and an increase in inventories, indicating a peak in demand [8]. - The increase in the number of initial jobless claims in the US has verified the weakness of the employment market, which will weaken residents' consumption ability and energy demand expectations, leading to a more pessimistic market expectation for US oil product demand [9]. 3.2 Polyester Sector 3.2.1 Futures and Spot Prices - WTI crude oil continuous decreased by 1.71% week - on - week, while the price of some polyester products such as PX and PTA increased slightly, and the price of EG decreased [11]. - The basis of some products such as PX decreased, while the basis of some products such as ethylene glycol increased [11]. 3.2.2 Supply - **PX**: The 800,000 - ton unit of Fuhai Chuang restarted, and the Asian PX capacity utilization rate increased slightly. Next week, some units will be under maintenance while Fuhai Chuang's unit will release production, so the weekly output of PX is expected to increase slightly [20]. - **PTA**: Some previously shut - down units restarted this week, and the supply increased. Next week, large - scale units such as Fuhai Chuang are planned to restart, and the supply is expected to continue to increase, with the supply - demand situation possibly turning to inventory accumulation [25]. - **Ethylene Glycol**: New units have successfully conducted test runs, increasing the expected domestic supply pressure. The supply decreased slightly this week, and the port inventory decreased slightly. Next week, the port inventory may first accumulate and then decline [28]. 3.2.3 Demand - The polyester end had an average weekly operating rate of 87.9%, a week - on - week increase of 0.56 percentage points. Polyester filament continued to accumulate inventory this week [29][32]. - Terminal seasonal orders were generally average, and downstream demand had not significantly improved. The Jiangsu and Zhejiang loom operating rate remained stable, the number of orders from textile enterprises increased slightly, and the inventory of grey fabrics decreased slightly [36][38][39]. 3.3 Methanol Sector 3.3.1 Futures, Spot, and Downstream Prices - The futures price of MA2601 decreased by 1.49% week - on - week, and the basis increased by 29.29%. The price of methanol in Taicang decreased slightly, while the CFR price increased [44]. - Among the downstream products, the prices of formaldehyde, glacial acetic acid, and MTBE increased, while the price of dimethyl ether remained unchanged [44]. 3.3.2 Cost and Profit - This week, due to the increase in the methanol spot price, the profits of the three major production processes all improved, with a week - on - week increase. The downstream profits mostly decreased slightly, but the MTO profit was still at a relatively high level in previous years, and the profits of acetic acid and MTBE increased for two consecutive weeks [49][50]. 3.3.3 Supply - As of September 11, the methanol unit capacity utilization rate was 84.58%, a week - on - week decrease of 2.05 percentage points. China's methanol production was 1.9192 million tons, a decrease of 43,500 tons from last week, a week - on - week decrease of 2.21%. This week, the number of shut - down units was greater than the number of restarted units. Next week, some units are planned to restart [53]. - As of September 10, China's methanol port inventory was 1.5503 million tons, an increase of 122,600 tons from the previous period, a week - on - week increase of 8.59%. The port continued to significantly accumulate inventory, and the supply side was under continuous pressure, with goods flowing back to the inland. The inland inventory was 342,600 tons, a decrease of 4,500 tons from the previous period, a week - on - week decrease of 1.3% [59]. 3.3.4 Demand - Affected by the maintenance of the olefin unit of Qinghai Salt Lake, the olefin operating load decreased slightly this week. With profit restoration and the expectation of some olefin unit restarts, the olefin operating rate still has room to rise. The operating rates of traditional downstream industries fluctuated, with no obvious positive signs [60]. - The restart of Zhejiang Xingxing will provide some support for the demand in the coastal market and may promote port inventory reduction. The subsequent olefin procurement plans and the continuous high import volume need to be continuously monitored [60].
甲醇数据周度报告-20250905
Xin Ji Yuan Qi Huo· 2025-09-05 12:54
Group 1: Report Summary - The report is a weekly methanol data report released by New Era Futures Research on September 5, 2025 [1][2] Group 2: Industry Investment Rating - No industry investment rating is provided in the report Group 3: Core Viewpoints - In the short - term, the supply - demand situation of methanol remains loose, with prices fluctuating within a range and being mostly affected by market sentiment. Attention should be paid to the resumption progress of olefin plants [21] - In the long - term, the supply - side pressure of methanol persists, and the fundamentals are weak. Attention should be paid to the actual demand during the "Golden September and Silver October" peak season and the impact of gas restrictions in Iran on methanol imports [21] Group 4: Price Trends - The futures price of MA2601 increased from 2361 yuan/ton to 2415 yuan/ton, with a rise of 2.29%. The basis decreased from - 136 yuan/ton to - 140 yuan/ton, a decline of 2.94%. The price of methanol in Taicang dropped from 2298.4 yuan/ton to 2255.2 yuan/ton, a decrease of 1.88%. The methanol CFR price decreased from 260 dollars/ton to 258.33 dollars/ton, a decline of 0.64% [4] - Among downstream products, the price of formaldehyde in Shandong remained unchanged, the price of glacial acetic acid in Jiangsu increased from 2229 yuan/ton to 2278.75 yuan/ton, a rise of 2.23%, the price of dimethyl ether in Henan remained unchanged, and the price of MTBE in Shandong increased from 4980 yuan/ton to 5061.25 yuan/ton, a rise of 1.63% [4] Group 5: Cost and Profit - This week, coal - based methanol profit slightly decreased due to the continuous decline and subsequent rebound of coal prices and increased freight. The profits of natural - gas - based and coke - oven - gas - based methanol recovered due to cost reduction [9] - As the methanol price decreased, the downstream profits significantly recovered, especially acetic acid, with a month - on - month increase of 23.69% [10] Group 6: Supply Side - As of September 4, the weekly plant capacity utilization rate was 86.63%, a month - on - month increase of 1.77 percentage points. Methanol production was 1.9628 million tons, an increase of 43,700 tons from last week, a month - on - month increase of 2.3% [13] - This week, the total restored capacity of returning plants was about 3.4 million tons, and the total lost capacity of maintenance plants was about 700,000 tons. Next week, some plants are planned for maintenance and some for resumption, with the resumption volume slightly larger than the maintenance volume [13] Group 7: Demand Side - With the gradual recovery of MTO profit, the MTO operating rate remained stable but decreased slightly due to the maintenance of Ningxia Baofeng's olefin plant on Thursday. Traditional downstream demand was mainly for rigid needs and decreased slightly due to some plant maintenance [16] - Although the "Golden September and Silver October" peak season has arrived, the actual demand fulfillment is slightly poor, and attention should be paid to whether future demand can meet expectations [16] Group 8: Inventory - As of September 3, the total port inventory of Chinese methanol was 1.4277 million tons, an increase of 128,400 tons from the previous period, a month - on - month increase of 9.88%. The inventory accumulation rate at ports narrowed compared to last week but still exceeded 1.4 million tons. The inland inventory was 341,100 tons, an increase of 7700 tons from the previous period, a month - on - month increase of 2.31%, remaining at a low - inventory level [19] Group 9: Strategy Recommendation - In the short - term, the supply - demand situation of methanol remains loose, with prices fluctuating within a range and being mostly affected by market sentiment. Attention should be paid to the resumption progress of olefin plants [21] - In the long - term, the supply - side pressure of methanol persists, and the fundamentals are weak. Attention should be paid to the actual demand during the "Golden September and Silver October" peak season and the impact of gas restrictions in Iran on methanol imports [21] - Next week's key points of concern include the recovery of coastal olefin plants, methanol inventory accumulation pressure, coal price impact, and macro - market sentiment [21]
甲醇数据日报-20250904
Guo Mao Qi Huo· 2025-09-04 05:19
Report Summary 1) Report Industry Investment Rating No information provided. 2) Core View - In the short term, methanol prices will fluctuate within a range. In the medium to long term, the methanol spot market may shift from a strong to a weak - fluctuating trend [1]. 3) Summary by Relevant Catalogs Price - Methanol prices in many domestic regions increased slightly. For example, the price in Inner Mongolia rose from 2030.00 to 2070.00, and in Shandong from 2260.00 to 2280.00. The price of Sichuan - Chongqing liquefied gas increased by 16.00 to 4080.00, while the price of international natural gas decreased by 0.19 to 10.68. Some associated product prices also changed, such as acetic acid increasing by 20.00 to 2290.00 and MTBE decreasing by 10.00 to 5040.00 [1]. Supply - Domestic methanol production increased from 279825.00 to 280425.00, and the domestic operating rate rose from 86.32 to 86.51. The international operating rate remained unchanged at 74.52 [1]. Inventory - Both enterprise inventory and port inventory remained unchanged at 333393.00 and 1299250.00 respectively [1]. Demand - Orders to be delivered remained unchanged at 216985.00. The formaldehyde market showed mixed trends. With raw material methanol slightly adjusting back, cost - side support strengthened. However, as the downstream entered the off - season, formaldehyde producers faced greater shipment pressure and adjusted their shipment mechanisms according to inventory [1]. Operating Rate of Associated Products - The operating rates of most associated products remained unchanged, including dimethyl ether at 5.97, formaldehyde at 42.25, acetic acid at 85.24, methane chloride at 87.29, and MTBE at 63.54 [1].